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Technology replaces schmoozing: the future of private banking

 

No longer is schmoozing over long lunches and fine wines enough; Swiss private bankers are turning to video games and virtual reality to attract a new generation of skeptical clients and see off digital rivals.

Technology is likely to appeal to multi-tasking millionaires with little time to spare. However, wealth managers must also win the trust of younger investors who have experienced two downturns during their formative years plus a furor over Swiss banks' involvement in tax evasion.

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